Rating agencies issued a blizzard of news releases during the week of April 23 announcing downgrades and other rating actions on mortgage-backed and mortgage-related securities, many of them linked to subprime mortgage loans.The releases resulted in more than 30 news items on well over 300 downgrades of MBS, asset-backed securities supported by home equity loans, and collateralized debt obligations containing residential and commercial MBS. This was a record number of downgrade-related news items for this publication in a single week.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
6h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
7h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
7h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
9h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25